Overview

Population

128.9 million

Gross domestic product

$1.2 trillion

E-commerce market value

$22.6 billion

Mobile commerce market size

$7.7 billion

Mobile commerce as a percentage of e-commerce market size

34%

Internet penetration

63.9%

Smartphone penetration

39.5%

Bank account penetration

37%

Card penetration per capita (debit & credit)

1.37

Preferred e-commerce methods

With local solutions available, Intercash can support your business’ payment needs in Mexico. 

E-commerce completed on a mobile device

$7.7 billion

Leading e-commerce payment method

Card - 45%

Largest e-commerce category

Electronics & Media - 33%

Mexico has a population of just over 128 million, owns the 15th largest nominal Gross Domestic Product (GDP) at USD $1.15 trillion and is the 11th largest country in terms of Purchasing Power Parity (PPP). Mexico is now firmly established as an upper middle-income country.  

 

Over recent years, Mexico has attracted increased interest from global brands looking to develop in the region, as online shopping is growing at an exponential rate. With regards to mobile, a recent study shows that Mexico is one of several countries leading the trend toward mobile commerce. The country has one of the largest mobile markets in Latin America, with one-third of all residents using smartphones. 

 

Overall, Mexico’s economy has benefited greatly in recent years from the liberalization of trade. Someof the country’s more significant verticals include the automotive industry, as well as electronics, and oil. Other major industries in the country include the energy, tourism, finance and banking sectors, among others. Mexico’s economy is on the rise and Intercash can provide global payment solutions with a local issuer for the region.  

About Mexico

Solution

Integrated to local banks and corner stores including 7/11, Oxxo, Wal Mart etc. for cash top-ups.

Overseen by CNBV

Access to spend on Carnet rails for both ATM withdrawals and purchases

Cash vouchers

Localized support

Foreign Currency exchange services in and out of MXN

Domestic bank transfers

MXN currency

Mexico

This major market continues to emerge and with fintech regulation becoming more clear, Intercash has heavily penetrated the Mexican market to offer clients local payment and card solutions with all the domestic features. 

Intercash can provide businesses with access to CARNET, Mexico's domestic card network, as well as PROSA, the financial-transaction network that routes Latin American credit- and debit-card transactions for authorization to the issuing banks.